Is it time you ditched your pricey pension plan for a fund supermarket? By Toby Walne, Financial Mail on Sunday Published: 21:52 BST, 27 June 2020 | Updated: 21:52 BST, 27 June 2020 Investors are using the lockdown to haul their pension savings out of expensive old-style plans – and move the money to low-cost … Read more
David and Denyse Vallender: ‘It’s a monumental government blunder,’ he said after she received £21,700 The Government is being pressed not to ‘add insult to injury’ by landing women underpaid massive sums in state pension with unfair tax bills. Denyse Vallender, pictured right with husband David, was handed £21,700 due to government bungling, while Allison Clark … Read more
Heather Rogers: ‘Depending on the amount of political pressure applied via parliament, there may be an argument for not taxing these payments at all’ Heather Rogers, founder and owner of Aston Accountancy, explains what women receiving thousands of pounds in state pension arrears should tell the taxman. If you were unfortunate enough to be underpaid … Read more
Regulators are pressing workplace pension schemes to scrutinise costs more closely to ensure staff are not over-charged. They propose tightening up rules on assessing value for money, including laying down standardised tests on charges and costs, investment performance and quality of service. Some independent governance committees, which are meant to represent the interests of people … Read more
More over-50s are claiming Universal Credit than under-25s, as older workers struggle in pandemic-hit job market Number of over-50s on Universal Credit has soared to 660,000 since March Many are ineligible because they have savings of £16k or draw a pension How do you claim Universal Credit? Find our guide below By Tanya Jefferies for … Read more
Our autistic daughter is unlikely to benefit from a pension we invested in for her – what should we do about it? Steve Webb replies By Steve Webb for This Is Money Published: 07:51 BST, 22 June 2020 | Updated: 07:51 BST, 22 June 2020 In the early life of our youngest daughter, we invested … Read more
My older sister has turned up after many years of absence and persuaded our elderly father to change his will, and I write in the sincere hope you can help me and my twin sister. Our family had a lot of unpleasantness growing up. Our parents married each other three times (to each other) and … Read more
The penny hopefully dropped some time ago on how high charges eat returns when we invest for retirement, but do investors also pay enough attention when it comes to drawing on their pension? The difference in investing a £250,000 pension pot for drawdown retirement income between the most expensive and cheapest providers would be £11,300 … Read more
Thousands of over-50s have had their dreams of giving up work dashed after the Covid-19 crisis wrecked their retirement plans. Many say they can no longer afford to stop working because the value of their pension savings has plummeted. Others have had to suspend pension contributions after their income was hit by lockdown and they … Read more
The coronavirus pandemic could force one in five people to delay retirement, as the knock-on financial crisis damages pension savings. The impact is causing many to rethink plans, even younger workers who have plenty of time to recover investment losses, according to an Aegon study. Separate research found half of all workers say the financial … Read more